https://www.taxtmi.com/caselaws?id=209614 The High Court of Kerala allowed the revenue's appeal in a case concerning the addition of proportionate expenditure attributable to exempted income in book profit assessment under Section 115JA of the Income Tax Act. The court reversed the Tribunal's order and reinstated the first appellate authority's decision confirming the disallowance of Rs. 1 crore, following precedent and specific legal provisions. The court clarified that the Supreme Court's ruling on CoD approval for appeals did not impact this case as the revenue had already obtained approval. The judgment focused on the validity of the expenditure addition, ultimately ruling in favor of the revenue. en-us Wed, 16 Mar 2011 00:00:00 +0530 Sat, 13 Jul 2013 09:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209614 The High Court of Kerala allowed the revenue's appeal in a case concerning the addition of proportionate expenditure attributable to exempted income in book profit assessment under Section 115JA of the Income Tax Act. The court reversed the Tribunal's order and reinstated the first appellate authority's decision confirming the disallowance of Rs. 1 crore, following precedent and specific legal provisions. The court clarified that the Supreme Court's ruling on CoD approval for appeals did not impact this case as the revenue had already obtained approval. The judgment focused on the validity of the expenditure addition, ultimately ruling in favor of the revenue. Case-Laws Income Tax Wed, 16 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209614